Utah Admin. Code R916-3-8 - Acceptable Bid Security; Performance and Payment Bonds
(1) The Executive Director, or designee,
shall have authority to waive the requirement to provide bid security, or may
reduce the amount of such security, if he or she determines that the bid
security otherwise required by Part 11 of the Utah Procurement Code to be
unnecessary to protect the State.
(2) The Executive Director, or designee,
shall have authority to reduce the amount of the payment and performance bonds
below the 100% level required by Part 11 of the Utah Procurement Code if he or
she determines that a 100% bond is unnecessary to protect the State.
(3) Bid security, payment bonds and
performance bonds must be provided on the forms included in the RFP.
Notes
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